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Submitted by admin on Fri, 06/03/2011 - 00:28

A brownfield is a property on which expansion, redevelopment, or reuse may be complicated by the presence, or perceived presence, of contamination. EPA’s Brownfields Program provides grants to fund environmental assessment, cleanup, and job training activities. Additionally, EPA seeks to strengthen the marketplace and encourages stakeholders to leverage the resources needed to clean up and redevelop brownfields.

This Brownfields Solutions factsheet is intended for brownfields stakeholders interested in how the U.S. Department of the Treasury’s New Markets Tax Credit (NMTC) Program can be used as a financing mechanism in brownfields cleanup and redevelopment. The NMTC Program is a development tool designed to stimulate the economies of low-income communities.

The Program’s tax credits, and the investment spurred by them, help to make brown?elds projects in low-income communities financially viable.